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​Are you thinking about your legacy and how you will pass your assets on to your loved ones? That’s a common concern for retirees and those entering the later stages of life. You may want to help your grandchildren with their education or perhaps pass assets with sentimental value to your children.

A written estate plan can help you achieve these goals. Your estate plan should prioritize your objectives and offer a strategy, as well as identify risks and challenges. Some potential roadblocks include taxes, end-of-life costs and even probate expenses.

​There are a broad range of risks that could threaten your ability to reach your financial goals. You probably have strategies in place to protect you from a wide range of risks such as medical issues, accidents, home damage and even death.

However, there’s one risk for which you may be unprepared. It’s the risk of disability. You might assume that disability is only caused by accidents. However, the truth is that many different issues, including chronic ailments, serious diseases and much more, can cause disability.

​Since its inception in 1974, the IRA has become a popular retirement savings tool. According to a study from the Employee Benefit Research Institute, there are more than 25 million IRAs open in the United States, and those accounts hold nearly $2.5 trillion in total assets.1

There are many reasons why the IRA is such a popular savings vehicle. Perhaps one of the biggest reasons is the account’s tax benefits. Depending on which type of IRA you own, you may benefit from tax deductions for your contributions, tax-deferred growth or even tax-free withdrawals in retirement.

​If you’re like many American workers, you’re probably vulnerable to disability risk. According to the Council for Disability Awareness, nearly 70 percent of American workers in the public sector have no private insurance coverage for long-term disability. That’s in spite of the fact that 25 percent of working adults will suffer a long-term disability at some point in their lives.1

Long-term disability is caused by a broad range of medical issues like accidents, chronic pain and injuries, serious illnesses, and much more. If you suffer a disability and are unable to work, you could face steep medical bills along with the burden of funding your expenses while not receiving a paycheck.

This information is designed to provide a general overview with regard to the subject matter covered and is not state specific. The authors, publisher and host are not providing legal, accounting or specific advice for your situation.

Securities and Advisory Services offered through Client One Securities, LLC Member FINRA/SIPC and an Investment Advisor. Carstens Financial Group and Client One Securities, LLC are not affiliated.​This information has been provided by a Licensed Insurance Professional and does not necessarily represent the views of the presenting insurance professional. The statements and opinions expressed are those of the author and are subject to change at any time. All information is believed to be from reliable sources; however, presenting insurance professional makes no representation as to its completeness or accuracy. This material has been prepared for informational and educational purposes only. It is not intended to provide, and should not be relied upon for, accounting, legal, tax or investment advice.